Becoming the first Canadian university to embrace Bitcoin, Simon Fraser University or SFU has announced that it will now take donations in digital currency as a part of its aim to promote the new technologies. Founded in 1965, the British Columbia-based university has enrolled more than 35,000 students and counted as one of the top universities in the world.
Showing his happiness about the decision Simon Fraser Bitcoin Club president Mike Yeung said that SFU is looking to be really innovative and really edgy, and Bitcoin is one of those things that is perfect for that. Mike Yeung together with SFU alumnus Scott Nelson provided the first Bitcoin donation to the school.
According to the duo Bitcoin is a way for the university to bolster its perception as a forward-thinking institution. So far, Simon Fraser University has received a $6,000 donation in Bitcoin which is first in its sort as it makes it the first Canadian post-secondary school to accept donations in the digital currency.
SFU alumnus Scott Nelson and Simon Fraser say that they are embracing Bitcoin because it is innovative, open source, entrepreneurial and fits well with SFU’s mission to engage the world. There are several benefits accepting Bitcoin and according to Yeung the digital currency can be molded in ways that can benefit people in every part of the globe and every segment of society in many ways.
Donated Bitcoin to Be Used for Humanitarian Co-Op Project
The announcement says that SFU students Laurie Macpherson and Lauren Shandley will use the donation for their humanitarian co-op project. The duo is going to Kolkata, India, where they will spend the fall term working for Destiny Reflection, a social enterprise that empowers victims of human trafficking.
Yeung informed the media that each SFU student gave one Bitcoin and if the current exchange rate is taken into consideration each student contributed nearly $550. According to him SFU students Laurie Macpherson and Lauren Shandley will look for somewhere to spend (the Bitcoin) in India.
According to Yeung the duo from SFU will see if they can use this as a talking point to different NGOs they will be talking with. He informed that the two students wanted the women to have some of the money kept as Bitcoin so they could document where they were able to use it in India.
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